Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Minnesota Housing Finance Agency's (MHFA) series 2014B residential housing finance bonds. At the same time, Standard&Poor's affirmed its 'AA+' issuer credit rating (ICR) on MHFA. Finally, Standard&Poor's affirmed its 'AA+/A-1+' and 'AA+' ratings on all other outstanding issues under MHFA's general housing bonds resolution. The outlook on all issues is stable. The ratings reflect our view of the agency's general credit strengths, which include: A very strong overall financial capacity, demonstrated by very strong liquidity, leverage, and capital adequacy ratios; A portfolio of very strong assets comprising whole loans and a growing portfolio of mortgage-backed securities (MBS); A very strong executive management team that is
